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Eurozone Watch (Free subscription) | 07/24/2008
... note that the sharp (and in a global context idiosyncratic) turn to the worse coincided with Jean-Claude Trichet’s announcement at the beginning of June that it would increase interest rates. Immediately following the press conference, interest rates in Europe over all maturities shot up, leaving them now clearly higher than at the beginning of June (look at the instructive yield...
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Forbes (Free subscription) | 07/23/2008
When the for the first time in a year earlier this month, in a bid to combat record oil prices and inflationary pressures, crude oil was trading at $146 per barrel. Now it is trading at some $20 below this record, a sign that the central bank's president Jean-Claude Trichet may have to rethink his focus. "The drop in oil prices could point to July as the peak for inflation in the ," said...
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Real Time Economics (Free subscription) | 07/22/2008
... predominant.” The ECB’s June forecasts called for growth around 1.5% next year. ECB president Jean-Claude Trichet also downgraded his growth assessment slightly last week, saying in an interview with four European newspapers that the euro-zone economy would “trough” in the second and third quarters before staging a progressive recovery. Mr. Trichet had previously maintained...
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Cambridge Forecast Group Blog (Free subscription) | 07/22/2008
... expectations and financial markets Mark Carney: Summary of the latest Monetary Policy Report Jean-Claude Trichet: Interview with Le Figaro, Frankfurter Allgemeine Zeitung, Irish Times and Jornal de Negócios José De Gregorio: Transparency and communications in modern central banking Randall S Kroszner: Federal Reserve’s initiatives to support minority-owned institutions and expand...
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Maverecon (Free subscription) | 07/22/2008
... Governing Council never had a vote on interest rates. She asserted that the ECB president, Jean-Claude Trichet, had often referred to the vote being unanimous. He hasn’t, of course. What he has said on a number of occasions is that the decision was unanimous. The ECB has never had a formal vote on interest rates. I know this out of the mouths of horses who between them have attended...
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Boston Globe (Free subscription) | 07/18/2008
European Central Bank President Jean-Claude Trichet has underlined the ECB's expectations that inflation will settle back to its target level in about 18 months and that the euro zone economy will return to moderate growth late this year.
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ireland.com (Free subscription) | 07/21/2008
German gross domestic product (GDP) shrank “considerably” in the second quarter, the Finance Ministry said, adding to a litany of gloomy forecasts for Europe which have lately fuelled increasing talk of the risk of recession. European Central Bank President Jean-Claude Trichet said last week that euro zone growth is likely to be weak in the second and third quarters, as poor economic...
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CNNMoney.com (Free subscription) | 07/21/2008
... it edged up against the British pound, which fell to $1.9971 from $1.9980.ECB President Jean-Claude Trichet expects the euro zone's economy to return to moderate growth late this year, after a midyear low, and sees inflation dropping back to around 2% within a year-and-a-half.He also underscored the ECB's commitment to its main aim of fighting inflation and his defense of the bank's...
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Everything Ulster (Free subscription) | 07/21/2008
... for such a large and diverse area as the EU though. The European Central Bank's president, Jean-Claude Trichet, warned that the ECB has more important things to worry about than eurozone members like the Republic of Ireland [sic], Spain and Portugal that are experiencing economic difficulties. "The ECB has to care for the superior interest of the euro area. ... Our monetary policy...
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Financial Time (Free subscription) | 07/19/2008
Eurozone growth is likely to rebound later this year after the current weak patch, Jean-Claude Trichet, president of the European Central Bank, has argued in comments...
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FT.com - Europe homepage (Free subscription) | 07/20/2008
... to perform better than other eurozone countries.”CDS prices have risen since June 5, when Jean-Claude Trichet, European Central Bank president, stepped up warnings on inflation. Since then, the cost to insure German debt against default has risen by €1,000 to €6,000 for €10m of debt. In contrast, the cost to insure Greek debt has risen €16,000 to €51,000. It has risen €15,000 for...
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The Irish Times (Free subscription) | 07/18/2008
Jean-Claude Trichet, the president of the European Central Bank, gave an interview last Friday to economics editor and journalists from three other leading European papers, 'Le Figaro', 'Frankfurter Allgemeine Zeitung' and 'Jornal de Negócios'. The interview, carried out in the ECB headquarters in Frankfurt, covered the bank's position on inflation, money policy and the appropriateness...
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snowflake5 (Free subscription) | 07/20/2008
... Bank of the USA and the European Central Bank. Ben Bernanke earns $191,300 (£95,722) and Jean-Claude Trichet earns €345,742 (£273,903). Both Bernanke and Trichet have far more responsibility than Mervyn King, dealing with far bigger, more complex economies.Americans in particular certainly don't pay their civil servants much at all. In Britain, though, we pay them extravagantly...
